Submitted by gene cohen, Mar 12, 2008 12:55

The $200 billion federal pledge is simply a way to keep bank liquid if there were a run on the banks in this country.

By backing the banks for 28 days using their questionalable collateral - and then allowing the banks to roll over for another and another 28 days the loan - a bank that is on the brink can turn a precarious situation around and delay the day of reckoning.

So I believe it is simply a life vest from the feds to the larger banks. It is intended to keep them from having a run on the banks that would have world-wide, calamatous results.

In that light, WHAT ELSE COULD THE FEDS HAVE DONE? The assets are gone. They were squandered by gamblers under the cloak of "bankers". The government has squandered another $3 trillion dollars fighting some kind of war that most people really don't understand. Most people know that saving the Iraqi society is not worth the price we Americans are paying...

And had we had put $1 billion dollars a day into solving our energy situation - the nation would have been energy independent by now.

If we had put $1 billion of our wealth into roads, bridges, schools, parks, and revitillizing neighborhoods - we would have had full employment and a much stronger country.

Government gambled. Banks gambled. Hedge funds gambled. Investment firms gambled. A lot of lofty institutions gambled.

And they lost......................

Now how do we get the ship righted?

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